RDIF must be recapitalized to planned level, VEB to receive necessary liquidity – Putin

Interfax, 02.10.2014

MOSCOW. Oct 2 (Interfax) - The Russian Direct Investment Fund (RDIF) must be recapitalized to the planned level, and Vnesheconombank (VEB) will also receive the necessary liquidity, Russian President Vladimir Putin said at VTB Capital's "Russia Calling!" forum in Moscow on Thursday.

"The RDIF must be recapitalized to the planned level, which will allow the fund to seriously expand the project line," he said.

Putin added that the 2015-2017 Russian budget set aside funds for recapitalization and the move would be carried out in 2016-2017.

In addition, he said VEB would receive at least 30 billion rubles over the next few years. "To maintain the scale of Vnesheconombank's participation in the national economy, it will be provided with the necessary amount of liquidity," Putin said.